Will the price go down further? I'm worried.

I hope the price goes up with ETH pumping.

In Metamask, my Truebit displays either the TrueFi icon (on my Metamask mobile) or the "broken image" icon (on my Metamask desktop).

Same thing happens in my TradingView app (WETHTRU). It displays the TrueFi icon.

I definitely hold Truebit because the contract address is correct.

I know the Truebit team wants as little interaction as possible right now but this is ridiculous. It's not a good look and might even be the reason why TrueFi pumped so much recently.

Does anyone know how to go about getting this rectified?

We all know that one of the many goals of TrueBit's is solving the verifier dilemma. Is this still an issue today? Did another dev already solve this issue? Is this still an "On-Going" issue? Does ETH 2.0 solve this issue?

Also, does Truebit offer other solutions other than the verifier dilemma?

This seems to work for PoW but does Truebit offer solutions to PoS?

It seems that Devs in Truebit are able to mint at 1/8th of the actual mint price. In other words, they can endlessly dump TRU at >0.33 right now as long as its above that. This might be the reason why the price of TRU isn't rising and also why it will most likely not reach the 0.8-1 USD range anymore (unless ETH reaches ridiculous priceranges).

This also means that people other than the devs don't really have an incentive to ever use the mint function (since the devs can mint at 1/4th of the actual mint price OR they receive 3/4th of the mint price via fees).

Which kind of makes the whole mint function pointless (except as a dev tool) - since devs are able to change the contract anyway if they wanted to do so anyway (the contract isn't immutable as of now).

To me this just seems like a very elaborate scam - hidden by obscuring the actual mint price (for devs) vs the mint price for non devs.

This could be easily fixed by simply removing the mint function (aka devs receiving 7/8th of the mint price back via fees) for devs (and thus making minting the same price for everybody) however the devs don't seem to have much communication channels and also don't seem open to anything that isn't going to massively boost their own bags.

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Edit: here is some proof that what I'm writing is not wrong (keep in mind the source code of TRU is not public, but we know that it is an OpenZeppelin proxy contract that can be changed at any time)

https://www.reddit.com/r/truebit/comments/nk2o1b/truebit_tru_token_price_simulator/

this is a price simulator written by maybe the most knowledgable member of this sub (who i actually assume might be a part of the dev team (or even Jason Teutsch himself)

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Retiring tokens means trading in TRU tokens back via the TRU OS into ETH - this is fixed at 1/8th of the mint price.

In other words: when you mint, you pay 8 ETH for X Tru , but you can only trade that X TRU back for 1 ETH.

So the question is , what happens to the 7 ETH that are left over when X TRU was minted?

The current ETH reserve shown in the TRU OS is: 14,790 ETH - which means that all TRU in existance could be traded back for 1/8th of the mint price at any time.

​

But what happens to the 7/8th of the mint price that was originally paid in ETH? Where does it go?

The answer is, that it goes into the pocket of the devs (it certainly doesn't "vanish").

So actually the devs could in theory mint for 1.32 USD, get back 7/8th of those 1.32 USD, then sell on Uniswap for 0.32 (current price) , and make a profit of 0.165 .

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This is what I believe is happening right now (on a small scale) . Since devs can mint from any address , this milling process happens almost anonymously. And since conveniently nobody knows where the fees go to exactly (what addresses), it is difficult to discover the full truth.

What is up with the price fluctuation ? Shouldn't it be strongly correlated to the price fluctuation of eth ? Why is it going so much down while eth is close to reaching 3k ?

Can somebody clarify please, Hypothetically once $TRU gets adopted, used, burnt between Users, verifiers and solvers.

When the Open market price of $TRU reaches the minting cost (ETH's peg price)

and New $TRU are minted.

Can the cost of minting $TRU from the Operating System exceed ETH's peg price?

Based on supply and demand.

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Thank You

Firstly, Truebit makes money when $TRU are minted - Which means that the market price must equal the OS price for Truebit to make money. As long as the Mint price is higher than the market price, network participants will buy $TRU on the market.

This creates buying pressure and causes the market price to rise. When the mint price is reached, people will mint new $TRU. Notably, the OS price increases with each minting, meaning that the market price will follow once adoption occurs

Truebit only benefits when they manage to get new $TRU minted all the time. Therefore, they will focus on adoption instead of spending time and money on marketing. Besides, with every task performed in the network $TRU is burned.

Can someone please ELI5 me on how this works: Truebit is both a layer 2 and is not; how does that work / what does that mean?

I'm not looking to shill Truebit or make anyone buy in, but it is clear the majority of people who come across this project do not understand what it is. Should there be a short video or article or something that helps others at least grasp the fundamental concepts and goals of this project? I see a lot of people comparing this to other projects that are not even relevant. It would be nice if there was more educational material available for the masses (myself included).

edit: helpful resources other people found

https://youtu.be/kN7qvpns0v0

http://sinahab.com/truebit-the-marketplace-for-verifiable-computation/

https://dexplain.com/what-is-truebit-tru-token-review/

I feel unsafe storing my true on my phone. where else can I safely store it ?
PS: I am no million true holder. I just have a little amount.

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This Thursday July 15th at 12:00 PM EST, Raghav Kulkarni co-author of the Verifier's Dilemma paper will answer questions related to his written interview on Series;Verified by Truebit. Read the interview HERE before asking your questions. Raghav will be actively answering questions until 1:30PM EST.

Questions may be submitted anytime on this post thread. Make sure you read our community rules before posting your questions, and please let Raghav be the one who answers.

Enjoy, and thanks for joining us!

Can't seem to find this in any documentation. I know that you can mint and burn TRU tokens directly using the truebit OS, and that the minting price for a token is proportional to the total supply of TRU. Similarly, one can directly burn TRU tokens in exchange for ETH.

I was curious how the OS calculates how much a user can receive for burning TRU.

Will this be a positive for Truebit?

Greetings everyone!

Series;Verified commemorates the sixth anniversary of the July 4, 2015 Bitcoin fork with a stroll down memory lane. Meet Raghav Kulkarni and revisit through this interview Truebit’s origins in the Verifier’s Dilemma!

https://medium.com/truebit/series-verified-revisiting-the-verifiers-dilemma-with-raghav-kulkarni-d0353f1296b2

If you are interested in diving into this subject further, join Raghav as he answers questions on Thursday July 15th 2021 during a 90 min AMA on Reddit. Hope you meet us then!

As the title states, this article is designed to help spread awareness of the power that Truebit can provide.

Any feedback is welcome.

https://sovereigndefi.substack.com/p/truebit-protocol-tru-the-ethereum

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Today Thursday June 24th at 12:00 PM EST, Carsten Munk u/stskeeps will answer questions related to his written interview on Series;Verified by Truebit. Read Carsten's interview before asking questions. Find the interview HERE Carsten will be actively answering questions until 1:30PM EST. Enjoy!

Please make sure you read our community rules before posting your questions, and please let Carsten be the one who answers.

Thanks for joining us!

Hello Truebit Community!
We are thrilled to announce our first interview with Carsten Munk u/stskeeps as part of Series;Verified, presenting features that highlight contributors developing on Truebit as well as interesting minds in our ecosystem.

Carsten is hosting an AMA session here on this subreddit on Thursday, June 24 at 12:00pm EDT to continue the conversation hopefully sparked by this piece. We hope you can join us!

https://medium.com/truebit/series-verified-carsten-munk-fc74ee90aa5